12 December 2015

It's repetitive for some to hear, but important for everybody to know: You can't explain Millennial economic behavior without explaining that real wages for young Americans have collapsed.

Derek Thompson

American families are grappling with stagnant wage growth, as the costs of health care, education, and housing continue to climb. But for many of America's younger workers, "stagnant" wages shouldn't sound so bad. In fact, they might sound like a massive raise.

Since the Great Recession struck in 2007, the median wage for people between the ages of 25 and 34, adjusted for inflation, has fallen in every major industry except for health care.